Failed Bank List

7 failures ยท $994 million in assets

Bank failures in 1978

Seven insured banks failed in 1978, up from 5 in 1977. Together they reported $994 million in assets, with no estimated loss recorded. The largest was Banco Credito y Ahorro Ponceno of Ponce, Puerto Rico, at $713 million. Alabama led with 3 failures, ahead of Illinois with 2.

Week by week

  • $1 billion or more
  • $100 million to $1 billion
  • under $100 million
Bank failures in 1978 by week of closingThe Drovers' National Bank of Chicago, 1978-01-19First Bank of Macon County, 1978-01-26Wilcox County Bank, 1978-03-01Banco Credito y Ahorro Ponceno, 1978-03-31Watkins Banking Company, 1978-07-21Banco de Ahorro de Puerto Rico, 1978-09-05North Point State Bank, 1978-12-16JanFebMarAprMayJunJulAugSepOctNovDec
One square per failed bank, stacked in the week it closed. 29% of these closings fell on a Friday.

Where they failed

Failures by state in 1978: Alabama 3, Illinois 2, Puerto Rico 2.

Explore

Filter and sort the 1978 failures by state, size or loss. Other years: 1979.

All 7 failures in 1978, in closing order
ClosedBankLocationTotal assetsEst. loss
January 19, 1978The Drovers' National Bank of ChicagoChicago, IL$227 millionnot estimated
January 26, 1978First Bank of Macon CountyNotasulga, AL$4.5 millionnot estimated
March 1, 1978Wilcox County BankCamden, AL$12.7 millionnot estimated
March 31, 1978Banco Credito y Ahorro PoncenoPonce, PR$713 millionnot estimated
July 21, 1978Watkins Banking CompanyFaunsdale, AL$1.7 millionnot estimated
September 5, 1978Banco de Ahorro de Puerto RicoSan Juan, PR$9.4 millionnot estimated
December 16, 1978North Point State BankArlington, IL$26.5 millionnot estimated